Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: ApeX Omni against BingX−0.058%7-day average +0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$870.867% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+2.451%+$245 · spread now −0.058%, 7d avg +0.094%

Together, before fees+2.460%+$246 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.153% cheaper against BingX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.094%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SPX-USDT	0.5131	0.0100	pay 0.0050% / 4h	2h 00m	—	$6.9M	—
Short	ApeX Omni SPXUSDT	0.5128	0.0100	get 0.0013% / 1h	0m 57s	$46K	$244K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee ApeX OmnibpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → +0.094%: −$15.29
Slippage, 4 orders: −$66.73
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$102.01
Costs to cover: 0.867%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; ApeX Omni: live order book, 65 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 7 min ago	7.85 bp	23.4 bp −$23	52.9 bp −$529	524.5 bp −$52.5K	1184.0 bp −$592.0K
Sell ApeX Omni live order book, 65 min ago	8.78 bp	17.5 bp −$18	107.4 bp −$1,074	doesn't fit	doesn't fit

SPX on 18 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.962%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5147	+0.306%	$139K	$358K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5146	+0.298%	$10.3M	$7.5M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5140	+0.180%	$5.2M	$21.1M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5129	−0.039%	$11.7M	$16.0M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5133	+0.039%	$959K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5139	+0.156%	$1.0M	$557K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5138	+0.136%	$11.7M	$5.0M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5141	+0.195%	$3.8M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5150	+0.370%	$2.7M	$1.4M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDTlong	+0.0100%	4h	0.5131	long leg	—	$6.9M	—
Variational Omni SPX	+0.0100%	4h	0.5139	+0.158%	$890K	$1.4M	—	as long as short
ApeX Omni SPXUSDTshort	+0.0100%	1h	0.5128	−0.058%	$46K	$244K	25x
SunX SPX-USDT	+0.0100%	4h	0.5136	+0.097%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5141	+0.191%	$35K	$258K	10x	as long as short
Aster SPXUSDT	+0.0110%	4h	0.5136	+0.094%	$130K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0148%	4h	0.5154	+0.448%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1160%	1h	0.5149	+0.347%	$255K	$541K	20x	as long as short